OREANDA-NEWS. Constituent documents on the establishment of a Russian-Kazakh JV for the development of Kazakh uranium deposits by Russian companies were signed in Almaty on May 11 2007 in the framework of the implementation of the joint statement on cooperation in the use of nuclear energy made by the Russian and Kazakh presidents on Jan 26 2006.

The sides announced the establishment of the JV in Astana on May 10 2007 during the official visit of Russian President Vladimir Putin to Kazakhstan.

The founders of the JV are the subsidiaries of Techsnabexport and Kazatomprom - Rusburmash CJSC and Volkovgeologia JSC, respectively.

This is already the seventh Russian-Kazakh nuclear JV. Earlier the sides set up JVs for prospecting and extraction of uranium and design of nuclear power plants. The first Russian-Kazakh JV, Zarechnoye JSC, started the commercial development of Zarechnoye uranium deposit in 2006.